There could soon be some relief for hard-pressed shoppers as an expert said there was "light at the end of the tunnel" in regards to spiralling food costs. Budgets have been stretched over the past year or more as high inflation has seen the cost of many staple items rocket.
But Laith Khalaf, who is head of investment analysis at AJ Bell in Bristol, told the BBC that Tesco's decision earlier this week to cut the cost of its milk indicated there was "some light at the end of the inflationary tunnel for consumers". After months of rises on products across people's trolleys, the supermarket giant announced its first reduction on the price of milk in three years, with a four-pint bottle of milk was coming down from £1.65 to £1.55, two pints from £1.30 to £1.25 and one pint from £95p to 90p.
Mr Laith said the move by Tesco suggested the "fiercely competitive" supermarket sector wasn't "simply going to cash in on profits as wholesale costs fall", reports the Mirror. Food prices in the UK have increased significantly due to rising inflation, which remains in double-digit figures.
